Nifty closes above 15,600; all sectors end in green!

Titan Company, Hindalco, and JSW Steel emerged as the top gainers amongst Nifty stocks.

Market update at 3.30 PM: It was a broad-based rally on Tuesday as all the indices closed in green. Nifty 50 surged 1.88 per cent to close at 15,638.80 while Sensex gained about 934 points. Nifty Midcap and Nifty Smallcap soared 3.56 per cent & 3.42 per cent, respectively.  

All the sectors closed in green particularly, media and metals, which witnessed a strong short-covering rally as they soared over 4 per cent each. Titan Company, Hindalco, and JSW Steel emerged as the top gainers amongst Nifty stocks. Interestingly, only Apollo Hospitals closed marginally lower while others ended in the green.   

With such a positive rally, the focus will shift towards the global markets to anticipate the overall trend.   

Market update at 12.50 PM: Nifty continues to trade higher and is up by nearly 2 per cent. It has crossed the 15,600-mark while Sensex gained nearly 1,000 points. Nifty Midcap and Nifty Smallcap indices are also trading higher by 2.66 per cent & 2.72 per cent, respectively.  

Titan, JSW Steel, and Hindalco are the top gainers while all the sectoral indices are in green. With such positivity, India VIX has cooled off by over 4 per cent.

Market update at 10.10 AM: Indices have seen a short-covering rally as Nifty is up by 1.30 per cent while Sensex has gained over 630 points. Nifty Midcap and Nifty Smallcap are up by over 1.68 per cent & 2.01 per cent, respectively. 

All the sectors are in green, showing positivity. Titan, Tata Motors, and Adani Ports have emerged as the top gainers amongst Nifty stocks. Interestingly, no Nifty stock is trading in negative. 

Meanwhile, the advance-decline ratio stands at 1,602:272, indicating an overall strong bullish market sentiment! 

Market update at 9.30 AM: Indices are trading higher and all the sectoral indices are in green.  

Media, metal, IT, and realty indices have gained over a per cent each. Meanwhile, India VIX has slipped over 2 per cent.  

Pre-market update: US markets were closed on Monday; however, the US futures are trading higher during the early hours on Tuesday.

The European markets closed higher later in the evening on Monday and with such positivity, most of the Asian markets have opened higher. SGX Nifty indicates a higher opening of about 50 points for Nifty.

Oil and metal stocks witnessed a tremendous sell-off in the last trading session, and thus, the stocks will be in focus today as well.

Nomura predicts that the US will be heading into a recession by the end of this year.
In the last trading session, the FIIs have sold to the tune of Rs 1,217 crore while the DIIs bought about Rs 2,093 crore worth of equity.

Nifty is likely to open around the level of 15,400 while this volatility is expected to persist.